 
                      CHAPTER 12--TRADE ACT OF 1974
 
              SUBCHAPTER I--NEGOTIATING AND OTHER AUTHORITY
 
                Part 6--Congressional Liaison and Reports
 
Sec. 2213. Reports


(a) Annual report on trade agreements program and national trade policy 
        agenda

    (1) The President shall submit to the Congress during each calendar 
year (but not later than March 1 of that year) a report on--
        (A) the operation of the trade agreements program, and the 
    provision of import relief and adjustment assistance to workers and 
    firms, under this chapter during the preceding calendar year; and
        (B) the national trade policy agenda for the year in which the 
    report is submitted.

    (2) The report shall include, with respect to the matters referred 
to in paragraph (1)(A), information regarding--
        (A) new trade negotiations;
        (B) changes made in duties and nontariff barriers and other 
    distortions of trade of the United States;
        (C) reciprocal concessions obtained;
        (D) changes in trade agreements (including the incorporation 
    therein of actions taken for import relief and compensation provided 
    therefor);
        (E) the extension or withdrawal of nondiscriminatory treatment 
    by the United States with respect to the products of foreign 
    countries;
        (F) the extension, modification, withdrawal, suspension, or 
    limitation of preferential treatment to exports of developing 
    countries;
        (G) the results of actions to obtain the removal of foreign 
    trade restrictions (including discriminatory restrictions) against 
    United States exports and the removal of foreign practices which 
    discriminate against United States service industries (including 
    transportation and tourism) and investment;
        (H) the measures being taken to seek the removal of other 
    significant foreign import restrictions;
        (I) each of the referrals made under section 2171(d)(1)(B) of 
    this title and any action taken with respect to such referral;
        (J) other information relating to the trade agreements program 
    and to the agreements entered into thereunder; and
        (K) the number of applications filed for adjustment assistance 
    for workers and firms, the number of such applications which were 
    approved, and the extent to which adjustment assistance has been 
    provided under such approved applications.

    (3)(A) The national trade policy agenda required under paragraph 
(1)(B) for the year in which a report is submitted shall be in the form 
of a statement of--
        (i) the trade policy objectives and priorities of the United 
    States for the year, and the reasons therefor;
        (ii) the actions proposed, or anticipated, to be undertaken 
    during the year to achieve such objectives and priorities, 
    including, but not limited to, actions authorized under the trade 
    laws and negotiations with foreign countries;
        (iii) any proposed legislation necessary or appropriate to 
    achieve any of such objectives or priorities; and
        (iv) the progress that was made during the preceding year in 
    achieving the trade policy objectives and priorities included in the 
    statement provided for that year under this paragraph.

    (B) The President may separately submit any information referred to 
in subparagraph (A) to the Congress in confidence if the President 
considers confidentiality appropriate.
    (C) Before submitting the national trade policy agenda for any year, 
the President shall seek advice from the appropriate advisory committees 
established under section 2155 of this title and shall consult with the 
appropriate committees of the Congress.
    (D) The United States Trade Representative (hereafter referred to in 
this section as the ``Trade Representative'') and other appropriate 
officials of the United States Government shall consult periodically 
with the appropriate committees of the Congress regarding the annual 
objectives and priorities set forth in each national trade policy agenda 
with respect to--
        (i) the status and results of the actions that have been 
    undertaken to achieve the objectives and priorities; and
        (ii) any development which may require, or result in, changes to 
    any of such objectives or priorities.

(b) Annual trade projection report

    (1) In order for the Congress to be informed of the impact of 
foreign trade barriers and macroeconomic factors on the balance of trade 
of the United States, the Trade Representative and the Secretary of the 
Treasury shall jointly prepare and submit to the Committee on Finance of 
the Senate and the Committee on Ways and Means of the House of 
Representatives (hereafter referred to in this subsection as the 
``Committees'') on or before March 1 of each year a report which 
consists of--
        (A) a review and analysis of--
            (i) the merchandise balance of trade,
            (ii) the goods and services balance of trade,
            (iii) the balance on the current account,
            (iv) the external debt position,
            (v) the exchange rates,
            (vi) the economic growth rates,
            (vii) the deficit or surplus in the fiscal budget, and
            (viii) the impact on United States trade of market barriers 
        and other unfair practices,

    of countries that are major trading partners of the United States, 
    including, as appropriate, groupings of such countries;
        (B) projections for each of the economic factors described in 
    subparagraph (A) (except those described in clauses (v) and (viii)) 
    for each of the countries and groups of countries referred to in 
    subparagraph (A) for the year in which the report is submitted and 
    for the succeeding year; and
        (C) conclusions and recommendations, based upon the projections 
    referred to in subparagraph (B), for policy changes, including trade 
    policy, exchange rate policy, fiscal policy, and other policies that 
    should be implemented to improve the outlook.

    (2) To the extent that subjects referred to in paragraph (1)(A), 
(B), or (C) are covered in the national trade policy agenda required 
under subsection (a)(1)(B) of this section or in other reports required 
by this chapter or other law, the Trade Representative and the Secretary 
of the Treasury may, as appropriate, draw on the information, analysis, 
and conclusions, if any, in those reports for the purposes of preparing 
the report required by this subsection.
    (3) The Trade Representative and the Secretary of the Treasury shall 
consult with the Chairman of the Board of Governors of the Federal 
Reserve System in the preparation of each report required under this 
subsection.
    (4) The Trade Representative and the Secretary of the Treasury may 
separately submit any information, analysis, or conclusion referred to 
in paragraph (1) to the Committees in confidence if the Trade 
Representative and the Secretary consider confidentiality appropriate.
    (5) After submission of each report required under paragraph (1), 
the Trade Representative and the Secretary of the Treasury shall consult 
with each of the Committees with respect to the report.

(c) ITC reports

    The United States International Trade Commission shall submit to the 
Congress, at least once a year, a factual report on the operation of the 
trade agreements program.

(Pub. L. 93-618, title I, Sec. 163, Jan. 3, 1975, 88 Stat. 2009; Pub. L. 
100-418, title I, Sec. 1641, Aug. 23, 1988, 102 Stat. 1271.)

                       References in Text

    This chapter, referred to in subsecs. (a)(1)(A) and (b), was in the 
original ``this Act'', meaning Pub. L. 93-618, Jan. 3, 1975, 88 Stat. 
1978, as amended, which is classified principally to this chapter. For 
complete classification of this Act to the Code, see References in Text 
note set out under section 2101 of this title and Tables.


                               Amendments

    1988--Pub. L. 100-418 amended section generally, completely revising 
and expanding provisions covering reports, changing the structure of the 
section from one consisting of subsecs. (a) and (b) to one consisting of 
subsecs. (a) to (c).


                     Trade Deficit Review Commission

    Pub. L. 105-277, div. A, Sec. 127, Oct. 21, 1998, 112 Stat. 2681-
547, as amended by Pub. L. 106-57, title III, Sec. 311, Sept. 29, 1999, 
113 Stat. 427; Pub. L. 106-246, div. B, title II, Sec. 2501, July 13, 
2000, 114 Stat. 556, provided that:
    ``(a) Short Title.--This section may be cited as the `Trade Deficit 
Review Commission Act'.
    ``(b) Findings.--Congress makes the following findings:
        ``(1) The United States continues to run substantial merchandise 
    trade and current account deficits.
        ``(2) Economic forecasts anticipate continued growth in such 
    deficits in the next few years.
        ``(3) The positive net international asset position that the 
    United States built up over many years was eliminated in the 1980s. 
    The United States today has become the world's largest debtor 
    nation.
        ``(4) The United States merchandise trade deficit is 
    characterized by large bilateral trade imbalances with a handful of 
    countries.
        ``(5) The United States has one of the most open borders and 
    economies in the world. The United States faces significant tariff 
    and nontariff trade barriers with its trading partners. The United 
    States does not benefit from fully reciprocal market access.
        ``(6) The United States is once again at a critical juncture in 
    trade policy development. The nature of the United States trade 
    deficit and its causes and consequences must be analyzed and 
    documented.
    ``(c) Establishment of Commission.--
        ``(1) Establishment.--There is established a commission to be 
    known as the Trade Deficit Review Commission (hereafter in this 
    section referred to as the `Commission').
        ``(2) Purpose.--The purpose of the Commission is to study the 
    nature, causes, and consequences of the United States merchandise 
    trade and current account deficits.
        ``(3) Membership of commission.--
            ``(A) Composition.--The Commission shall be composed of 12 
        members as follows:
                ``(i) Three persons shall be appointed by the President 
            pro tempore of the Senate upon the recommendation of the 
            Majority Leader of the Senate, after consultation with the 
            Chairman of the Committee on Finance.
                ``(ii) Three persons shall be appointed by the President 
            pro tempore of the Senate upon the recommendation of the 
            Minority Leader of the Senate, after consultation with the 
            ranking minority member of the Committee on Finance.
                ``(iii) Three persons shall be appointed by the Speaker 
            of the House of Representatives, after consultation with the 
            Chairman of the Committee on Ways and Means.
                ``(iv) Three persons shall be appointed by the Minority 
            Leader of the House of Representatives, after consultation 
            with the ranking minority member of the Committee on Ways 
            and Mean.
            ``(B) Qualifications of members.--
                ``(i) Appointments.--Persons who are appointed under 
            subparagraph (A) shall be persons who--
          ``(I) have expertise in economics, international trade, 
                manufacturing, labor, environment, business, or have 
                other pertinent qualifications or experience; and
          ``(II) are not officers or employees of the United States.
                ``(ii) Other considerations.--In appointing Commission 
            members, every effort shall be made to ensure that the 
            members--
          ``(I) are representative of a broad cross-section of economic 
                and trade perspectives within the United States; and
          ``(II) provide fresh insights to analyzing the causes and 
                consequences of United States merchandise trade and 
                current account deficits.
        ``(4) Period of appointment; vacancies.--
            ``(A) In general.--Members shall be appointed not later than 
        60 days after the date of enactment of this Act [Oct. 21, 1998] 
        and the appointment shall be for the life of the Commission.
            ``(B) Vacancies.--Any vacancy in the Commission shall not 
        affect its powers, but shall be filled in the same manner as the 
        original appointment.
        ``(5) Initial meeting.--Not later than 30 days after the date on 
    which all members of the Commission have been appointed, the 
    Commission shall hold its first meeting.
        ``(6) Meetings.--The Commission shall meet at the call of the 
    Chairperson.
        ``(7) Chairperson and vice chairperson.--The members of the 
    Commission shall elect a chairperson and vice chairperson from among 
    the members of the Commission.
        ``(8) Quorum.--A majority of the members of the Commission shall 
    constitute a quorum for the transaction of business.
        ``(9) Voting.--Each member of the Commission shall be entitled 
    to 1 vote, which shall be equal to the vote of every other member of 
    the Commission.
    ``(d) Duties of the Commission.--
        ``(1) In general.--The Commission shall be responsible for 
    examining the nature, causes, and consequences of, and the accuracy 
    of available data on, the United States merchandise trade and 
    current account deficits.
        ``(2) Issues to be addressed.--The Commission shall examine and 
    report to the President, the Committee on Ways and Means of the 
    House of Representatives, the Committee on Finance of the Senate, 
    and other appropriate committees of Congress on the following:
            ``(A) The relationship of the merchandise trade and current 
        account balances to the overall well-being of the United States 
        economy, and to wages and employment in various sectors of the 
        United States economy.
            ``(B) The impact that United States monetary and fiscal 
        policies may have on United States merchandise trade and current 
        account deficits.
            ``(C) The extent to which the coordination, allocation, and 
        accountability of trade responsibilities among Federal agencies 
        may contribute to the trade and current account deficits.
            ``(D) The causes and consequences of the merchandise trade 
        and current account deficits and specific bilateral trade 
        deficits, including--
                ``(i) identification and quantification of--
          ``(I) the macroeconomic factors and bilateral trade barriers 
                that may contribute to the United States merchandise 
                trade and current account deficits;
          ``(II) any impact of the merchandise trade and current account 
                deficits on the domestic economy, industrial base, 
                manufacturing capacity, technology, number and quality 
                of jobs, productivity, wages, and the United States 
                standard of living;
          ``(III) any impact of the merchandise trade and current 
                account deficits on the defense production and 
                innovation capabilities of the United States; and
          ``(IV) trade deficits within individual industrial, 
                manufacturing, and production sectors, and any 
                relationship between such deficits and the increasing 
                volume of intra-industry and intra-company transactions;
                ``(ii) a review of the adequacy and accuracy of the 
            current collection and reporting of import and export data, 
            and the identification and development of additional data 
            bases and economic measurements that may be needed to 
            properly quantify the merchandise trade and current account 
            balances, and any impact the merchandise trade and current 
            account balances may have on the United States economy; and
                ``(iii) the extent to which there is reciprocal market 
            access substantially equivalent to that afforded by the 
            United States in each country with which the United States 
            has a persistent and substantial bilateral trade deficit, 
            and the extent to which such deficits have become 
            structural.
            ``(E) Any relationship of United States merchandise trade 
        and current account deficits to both comparative and competitive 
        trade advantages within the global economy, including--
                ``(i) a systematic analysis of the United States trade 
            patterns with different trading partners and to what extent 
            the trade patterns are based on comparative and competitive 
            trade advantages;
                ``(ii) the extent to which the increased mobility of 
            capital and technology has changed both comparative and 
            competitive trade advantages;
                ``(iii) any impact that labor, environmental, or health 
            and safety standards may have on comparative and competitive 
            trade advantages;
                ``(iv) the effect that offset and technology transfer 
            agreements have on the long-term competitiveness of the 
            United States manufacturing sectors; and
                ``(v) any effect that international trade, labor, 
            environmental, or other agreements may have on United States 
            competitiveness.
            ``(F) The extent to which differences in the growth rates of 
        the United States and its trading partners may impact on United 
        States merchandise trade and current account deficits.
            ``(G) The impact that currency exchange rate fluctuations 
        and any manipulation of exchange rates may have on United States 
        merchandise trade and current account deficits.
            ``(H) The flow of investments both into and out of the 
        United States, including--
                ``(i) any consequences for the United States economy of 
            the current status of the United States as a debtor nation;
                ``(ii) any relationship between such investment flows 
            and the United States merchandise trade and current account 
            deficits and living standards of United States workers;
                ``(iii) any impact such investment flows may have on 
            United States labor, community, environmental, and health 
            and safety standards, and how such investment flows 
            influence the location of manufacturing facilities; and
                ``(iv) the effect of barriers to United States foreign 
            direct investment in developed and developing nations, 
            particularly nations with which the United States has a 
            merchandise trade and current account deficit.
    ``(e) Final Report.--
        ``(1) In general.--Not later than 15 months after the date of 
    the initial meeting of the Commission, the Commission shall submit 
    to the President and Congress a final report which contains--
            ``(A) the findings and conclusions of the Commission 
        described in subsection (d); and
            ``(B) recommendations for addressing the problems identified 
        as part of the Commission's analysis.
        ``(2) Separate views.--Any member of the Commission may submit 
    additional findings and recommendations as part of the final report.
    ``(f) Powers of Commission.--
        ``(1) Hearings.--The Commission may hold such hearings, sit and 
    act at such times and places, take such testimony, and receive such 
    evidence as the Commission may find advisable to fulfill the 
    requirements of this section. The Commission shall hold at least 1 
    or more hearings in Washington, D.C., and 4 in different regions of 
    the United States.
        ``(2) Information from federal agencies.--The Commission may 
    secure directly from any Federal department or agency such 
    information as the Commission considers necessary to carry out the 
    provisions of this section. Upon request of the Chairperson of the 
    Commission, the head of such department or agency shall furnish such 
    information to the Commission.
        ``(3) Postal services.--The Commission may use the United States 
    mails in the same manner and under the same conditions as other 
    departments and agencies of the Federal Government.
    ``(g) Commission Personnel Matters.--
        ``(1) Compensation of members.--Each member of the Commission 
    shall be compensated at a rate equal to the daily equivalent of the 
    annual rate of basic pay prescribed for level IV of the Executive 
    Schedule under section 5315 of title 5, United States Code, for each 
    day (including travel time) during which such member is engaged in 
    the performance of the duties of the Commission.
        ``(2) Travel expenses.--The members of the Commission shall be 
    allowed travel expenses, including per diem in lieu of subsistence, 
    at rates authorized for employees of agencies under subchapter I of 
    chapter 57 of title 5, United States Code, while away from their 
    homes or regular places of business in the performance of services 
    for the Commission.
        ``(3) Staff.--
            ``(A) In general.--The Chairperson of the Commission may, 
        without regard to the civil service laws and regulations, 
        appoint and terminate an executive director and such other 
        additional personnel as may be necessary to enable the 
        Commission to perform its duties. The employment of an executive 
        director shall be subject to confirmation by the Commission.
            ``(B) Compensation.--The Chairperson of the Commission may 
        fix the compensation of the executive director and other 
        personnel without regard to the provisions of chapter 51 and 
        subchapter III of chapter 53 of title 5, United States Code, 
        relating to classification of positions and General Schedule pay 
        rates, except that the rate of pay for the executive director 
        and other personnel may not exceed the rate payable for level V 
        of the Executive Schedule under section 5316 of such title.
        ``(4) Detail of government employees.--Any Federal Government 
    employee may be detailed to the Commission without reimbursement, 
    and such detail shall be without interruption or loss of civil 
    service status or privilege.
        ``(5) Procurement of temporary and intermittent services.--The 
    Chairperson of the Commission may procure temporary and intermittent 
    services under section 3109(b) of title 5, United States Code, at 
    rates for individuals which do not exceed the daily equivalent of 
    the annual rate of basic pay prescribed for level V of the Executive 
    Schedule under section 5316 of such title.
        ``(6) Applicability of certain pay authorities.--
            ``(A) In general.--An individual who is a member of the 
        Commission and is an annuitant or otherwise covered by section 
        8344 or 8468 of title 5, United States Code, by reason of 
        membership on the Commission is not subject to the provisions of 
        section 8344 or 8468 (whichever is applicable) with respect to 
        such membership.
            ``(B) Uniformed service.--An individual who is a member of 
        the Commission and is a member or former member of a uniformed 
        service is not subject to the provisions of subsections (b) and 
        (c) of section 5532 [of title 5], United States Code, with 
        respect to membership on the Commission.
    ``(h) Support Services.--The Administrator of the General Services 
Administration shall provide to the Commission on a reimbursable basis 
such administrative support services as the Commission may request.
    ``(i) Appropriations.--There are appropriated $2,000,000 to the 
Commission to carry out the provisions of this section. Amounts 
appropriated pursuant to this subsection shall remain available until 
the date which is 90 days after the date on which the Commission submits 
the final report described in subsection (e).
    ``(j) Federal Advisory Committee Act.--The provisions of the Federal 
Advisory Committee Act (Public Law 92-463; 5 U.S.C. App.) shall not 
apply to the Commission.
    ``(k) Termination.--The Commission shall terminate 90 days after the 
date on which the Commission submits the final report under subsection 
(e).''

                  Section Referred to in Other Sections

    This section is referred to in sections 2514, 3533 of this title.
